How To Pay for Your Masters Studies in the UK with Government Student Loan in 2026/2027.

If you are planning to study a postgraduate Masters degree in the UK, you may get a postgraduate Masters student loan to help pay for your studies. Here is what you need to know:

Masters Student Loan Amount and Payments

  • The maximum amount of postgraduate Masters loan in the UK for the 2026-27 academic year is £13,206.
  • Get maximum amount regardless of your income or savings.
  • The money will be paid directly to your bank account to use for tuition fees and/or living costs, how you spend it is up to you. 
  • You can only have one postgraduate loan and there isn't a separate postgraduate maintenance loan for postgraduate studies.

Payments are divided equally across your course and paid in three instalments per academic year, as follows:

  • 33% at or near your course start date (once your university confirms your registration)

  • 33% on the last Wednesday of the fourth month of your course

  • 34% on the last Wednesday of the seventh month of your course

Check What You Can Get

Use UniEdu's Can-I-Apply tool - simply answer a few questions to find out if you can apply for the postgraduate Masters loan in the UK. In addition you will get a list of universities that might accept you and best match your potential and needs

If you would like to discuss your options, choices, and funding availability in more detail, you can always get in touch with us at any time for quick and friendly advice, we will be happy to help you! 

Student Finance for Online Master Studies in the UK

If you wish to study your Masters degree online, you can also qualify for a Postgraduate Master’s Loan. You’ll need to be living in England on the first day of the first academic year of your course. You’ll also need to live in:

  • England for the whole of your course, if you’re an EU national

  • the UK for the whole of your course, if you’re not an EU national

Application

You can start applying for a postgraduate loan in May 2026. Pre-settled and settled applicants of EU origin are strongly encouraged to apply through paper-based forms available though the Student Loans Company website. 

The exact, step-by-step procedure on how to apply and information on what evidence to add to your  application is available on your website for registered users. Please contact us to find out more.

Repayments

You only need to start repaying the loan after you graduate and when you start earning over £21,000 a year. Repayments are set at 6% of your income above this threshold. If you are employed, this deduction will be taken automatically by HMRC each month, from your salary whenever you earn more than £1,750 (the monthly equivalent of £21,000 per year). If you are self-employed, you will need to make student loan repayments as part of your annual tax return.

In addition to the principal amount borrowed, you must also repay interest, which begins accumulating the moment your first loan payment is issued. This interest is calculated using the Retail Prices Index (RPI) plus 3%. While the RPI figure is drawn from March inflation measurements published each April, the actual interest rate applied to your loan is updated annually every September. The current Master's loan interest rate is 6.2%, though it is subject to change each year. Regardless of your outstanding balance, any remaining postgraduate loan debt is entirely written off 30 years after your repayment period begins.

Eligibility - Personal Criteria

To be eligible for a postgraduate loan, you must:

  • have a pre-settled or settled status (or British citizenship)

  • be ordinarily resident in England

  • have lived in the EU / EEA or the UK for the past three years

  • live in the UK on or before September the 1st, 2026

  • be under 60 years old at the start of your Masters degree

  • not already have a Masters degree or a higher level qualification

  • not be in arrears with any previous student loans

In addition, you may also be eligible if:

  • You are Ukrainian and you or your family member have been granted leave to enter or remain in the UK under the Ukraine Family Scheme, the Homes for Ukraine Sponsorship Scheme or the Ukraine Extension Scheme

  • you're an Irish national

  • you or a family member have been granted refugee status or humanitarian protection in the UK

  • you're 18 or over and have lived in the UK for at least 20 years and/or half of your life

Eligibility - Course Criteria:

To be eligible for a postgraduate Master loan, your course must meet the following requirements:

  • Be a full, standalone Master’s course (not a top-up course)

  • Be worth at least 180 credits

  • Be provided by an eligible university or college in the UK (including the Open University)

  • Be taught or research-based

  • It can be full-time, part-time, or by distance learning (online studies).

Examples of postgraduate master’s qualifications include:

  • MSc (master of science)

  • MA (master of arts)

  • MPhil (master of philosophy)

  • MRes (master of research)

  • LLM (master of law)

  • MFA (master of fine art)

  • MEd (master of education)

  • MBA (master of business administration)

You cannot get a Postgraduate Master’s Loan for a postgraduate certificate or diploma.

Conclusions

The UK Postgraduate Student Loan is a great option for those who are looking to pursue a postgraduate Masters degree in England. It provides financial support of up to £13,206 for eligible students, which can be used to cover tuition fees and living expenses. However, it's important to note that there are certain eligibility criteria and course requirements that must be met in order to qualify for this loan.

If you're unsure about your eligibility or have any questions about the loan, it's always a smart idea to consult with expert advisers, such as UniEdu's. 

We have got over 10 years of experience in supporting Postgraduate Student Loan applications and can provide you with personalised guidance and support, help you navigate the application process, understand the terms and conditions of the loan, and ensure that you have all the information you need to make an informed decision about your postgraduate Masters studies in the UK. 

We look forward to hearing from you!